Healthcare disruption is no longer looming — it's here, and it's necessary. As the population continues aging, health organizations and providers are struggling to keep up with growing demand for care, while consumers are facing astronomical costs — often for subpar service. Business Insider Intelligence

According to the Centers for Medicare and Medicaid Services (CMS), healthcare spending in the US has already surpassed $3 trillion annually — a figure expected to grow another 5% this year.

Desperate for ways to cut costs and improve accessibility of patient care, traditional healthcare providers are turning to tech innovations for help. In the last five years alone, healthcare funding among the 10 largest US tech companies jumped from $277 million to $2.7 billion.

New technologies including telehealth, wearables, mobile apps, and AI are facilitating a shift towards preventative medicine and value-based care, in turn reducing claims, improving benefits plans, lowering patients' premiums, and increasing their lifetime value.

Now, four of the biggest tech companies are ramping up to go all-in on healthcare — but they're each tackling a different part of the space. Here are the four big tech players shaking up healthcare, and what they're focusing on:

Want to Learn More?

This is just a preview of B ig Tech in Healthcare , a new report from Business Insider Intelligence, Business Insider's premium research service. The full report breaks down the different strategies Alphabet, Amazon, Apple, and Microsoft are applying to healthcare — and highlights what impact they'll have on the future of the industry.

In full, the report outlines key themes driving the shift toward digital health, the impact for users and providers, potential barriers to each of the Big Four's healthcare businesses, and how they can overcome these obstacles to reshape the industry.

Tesla CEO Elon Musk said the company will start rolling out "breakthrough" features to its semi-autonomous Autopilot software in around four weeks during the company's second-quarter earnings call on Wednesday.

Musk said some customers would begin receiving the update in around four weeks and all Tesla customers who purchased Autopilot would receive the update in September. Musk said the update would "certainly include some significant advancements in autonomy."

Stuart Bowers, Tesla's vice president of engineering, said the update would allow Tesla vehicles to "automatically attempt to change lanes" and suggested it could help drivers transition to and from highways. Bowers called the update, "our on-ramp to off-ramp solution that's going to automatically attempt to change lanes, understand what lane the car is in, understand the route the user wants to travel, and take that route for the user and ultimately hand back control to user."

During Tesla's annual shareholder meeting in June, Musk alluded to the update and said it would include, "full, self-driving features," and indicated the update would allow Tesla vehicles to perform better in areas where lanes merge on highways.

Tesla's website describes upcoming features — including the ability for a vehicle to change lanes without driver input, move from one freeway to another, and exit a freeway near the driver's destination — that are not available in Autopilot's current iteration.

In its current iteration, Autopilot can keep a car in its lane and adjust its speed based on surrounding traffic, among other features. Recent accidents involving the feature have raised questions about whether drivers place too much trust in it and fail to pay attention to the road. Tesla has repeatedly said Autopilot is meant to be used with an attentive driver whose hands are on the wheel, but the most visible accidents involving Autopilot have included reports of distracted drivers .

Tesla has received criticism for how it has promoted the feature. In May, Consumer Watchdog and the Center for Auto Safety sent a letter to the Federal Trade Commission asking the agency to investigate the strategies the company has used to sell Autopilot.

If you've worked for Tesla and have a story to share, you can contact this reporter at This email address is being protected from spambots. You need JavaScript enabled to view it..

Tesla revealed the cars people are giving up in favor of its Model 3 sedan on Wednesday during the company's second quarter 2018 earnings call.

According to Tesla, the most commonly traded in models include the Honda Accord, Honda Civic, Toyota Prius, Nissan Leaf, and BMW 3 Series.

Even though Tesla sees the Model 3 as a rival for entry-level luxury sedans the most commonly traded in vehicles, apart from the 3 Series, are actually from mass-market brands.

While operating at different price points, each of these five models are all sales leaders in their respective segments of the marketplace. Through June, the Honda Civic is the best-selling compact sedan in the US while the Accord is the second best selling mid-size sedan. The Prius is the best selling hybrid in the US while the Nissan Leaf has been the best selling EV in the US since its introduction nearly a decade ago.

As a result, it's not surprising to see any of these vehicles on the list.

As for the Model 3, Tesla announced during the call that it has reached 5,000 cars in weekly production several times during the second quarter.

Moving forward, the company expects to make 6,000 Model 3s per week by the end of August and a total of 50,000 to 55,000 during the third quarter. In 2019, Tesla hopes to make up to 10,000 Model 3 per week.

Tesla CEO Elon Musk apologized to Sanford C. Bernstein & Co. analyst Antonio Sacconaghi during the company's second-quarter earnings call on Wednesday. During Tesla's first-quarter earnings call in May, Musk referred to Sacconaghi's questions as "boring" and "boneheaded."

"I'd like to apologize for being impolite on the prior call. Honestly, I really think there's no excuse for bad manners, and I was kind of violating my own rule in that regard. There are reasons for it in that I had gotten no sleep, had been working 110 hour, 120 hour weeks, but nonetheless, there's still no excuse," Musk said on Wednesday.

Musk spurred controversy by criticizing and rejecting questions from Wall Street analysts on Tesla's first-quarter earnings call. During the Q&A segment of the call, Musk rejected a question from Sacconaghi about the company's future capital requirements.

"Excuse me. Next. Boring bonehead questions are not cool," Musk replied.

The next question came from RBC Capital Markets analyst Joseph Spak, who asked about Model 3 reservations.

"These questions are so dry. They're killing me," Musk said, before turning to Galileo Russell, a retail investor who runs a YouTube channel about Tesla. Russell was allowed to ask several questions about a range of subjects, none of which concerned Tesla's financial health.

The call surprised analysts like Morgan Stanley's Adam Jonas, who told CNBC it was "arguably the most unusual" earnings call he had heard in 20 years.

Business Insider's Matthew DeBord wrote that the call was "easily the most bizarre Muskian performance yet."

Musk began the Q&A segment of Wednesday's call on a more subdued note and answered Sacconaghi's questions after the apology.

If you've worked for Tesla and have a story to share, you can contact this reporter at This email address is being protected from spambots. You need JavaScript enabled to view it..

Verizon, Progressive Insurance, Pfizer, Lowe's, Geico, Walmart and McDonald's are some of TV's biggest advertisers.

So far, a source says, none of them are cutting back spending on CBS.

That's despite serious allegations of sexual misconduct against CEO Les Moonves — including multiple accounts of Moonves forcibly touching women at the network — and one account of him pinning down an actress and kissing her.

In fact, it's "business as usual" at CBS and no advertisers have asked to pull spending from the network, a person familiar with the matter said.

On Friday, the New Yorker's Ronan Farrow published a bombshell report of an investigation into Moonves' alleged behavior spanning multiple decades. In it, six women accused the executive of sexual misconduct, retaliation and unwanted advances. NBC News then reported that a woman had gone to Los Angeles police to claim three instances of misconduct. The NBC News report states that it is unknown whether the woman who went to the LA police is among those who spoke to The New Yorker.

But Farrow has since tweeted that the report appears to stem from allegations not included in The New Yorker story:

CBS' board of directors reportedly spent the weekend figuring out how to handle the Les Moonves report. For now, it has decided to keep him on and open an investigation into the claims through independent outside counsel.

The media skewered CBS for the decision, but advertisers don't seem inclined to punish CBS.

Business Insider reached out to several of the top TV advertisers, including Verizon, Pfizer, Progressive Insurance, Lowe's, Geico, Walmart and McDonald's. Most did not respond to inquiries about their CBS spending.

A spokesman for Universal Pictures said: "We are not planning to pull spending at this time."

Brands apparently don't view the Moonves allegations in the same way as ones that led to other recent ad kerfuffles

Advertisers have pulled their money in other #metoo situations. Former Fox News host Bill O'Reilly, for example, lost more than half of his show's advertisers in the week following a report on his alleged behavior.

But Moonves isn't on TV. In fact, most Americans probably don't know who he is, even though he is one of the highest-paid corporate executives in the world , pulling in about $70 million in 2017.

And brands likely don't see advertising their products during popular CBS shows, like "The Big Bang Theory" or "NCIS," as an endorsement of Moonves.

Plus, it's a lot easier for a brand to request that its ads get moved out of a particular show to other shows on a network (which happened during the O'Reilly incident, as well as the short term advertiser boycott of Fox News' host Laura Ingraham ) than to ditch an entire network.

Especially the highest-rated broadcast network in the US.

For an advertiser that might need to drive people to its stores, going dark on CBS and temporarily taking away the reach of its message could actually hurt its business.

CBS' hit show, "The Big Bang Theory." CBS

Advertisers aren't always inclined to take the moral high ground unless they feel pressured to

The harsh truth is that advertisers aren't always inclined to make media buying decisions because they want to make a statement or feel like they are 'doing the right thing."

Sometimes it takes being publicly shamed before they will take action. Right now, that outside pressure is lacking.

For example, Sleeping Giants, a social media advocacy group that has pressured brands to yank money before, has yet to weigh in on Moonves.

For now, the CBS board will proceed with its investigation into the Moonves allegations . Future business might actually look pretty bright.

The broadcast TV industry, CBS included, just closed a killer upfront ad sales season, locking down roughly $10 billion in sales for the upcoming season, according to Variety.

CBS even pushed for big prices increases, Variety reported.

Tesla reported second-quarter earnings on Wednesday after the close of market. The company lost more than expected but also brought in more revenue: more than $4 billion.

Importantly, although Tesla yet again spent a lot of money in the quarter, it retained $2.2 billion in cash on its balance sheet and slowed its cash burn — remarkable, given the problems it encountered with its Model 3 roll-out.

That's about $1 billion less that it had at the end of 2017 — but just $500 million less than what it had at the end of the first quarter.

The company now expects to hold total capital expenditure under $2.5 billion for the full year while adding to its overall cash position.

It's going to be tight, and Tesla's year-end cash situation will depend on whether it can continue to grow revenues in the next two quarters while notching either lower losses or actual profits.

"Ultimately, our capital expenditure guidance will develop in line with Model 3 production and profitability," the company said in its investor letter. "We will be able to adjust our capital expenditures depending on our operating cash generation."

The company likes to operate with a $1-billion cash buffer, so the difference between cash on hand and the anticipated spend will have to be dealt with.

A wildcard is zero-emission-vehicle (ZEV) credits. Tesla sold $50-million worth in the first quarter, but none in the second.

Tesla shares surged almost 4% in after-hours trading on Wednesday after earnings were reported, so some analysts might want to know if CEO Elon Musk will relent on his promise and issue new equity or convertible debt before the end of the year, to take advantage of a share price that's now over $300.

Regardless of whether he changes his mind or Tesla stays the course, the company hasn't run out money yet — contrary to some predictions offered earlier this year .

Amazon isn't just raking in ad revenue , it's also spending considerable ad dollars itself.

The e-commerce giant is the biggest programmatic ad buyer, according to data crunched by MediaRadar, a New York-based advertising intelligence company. Amazon accounts for more than 10% of the spend of the top 50 programmatic advertisers alone, and spends 1.5 times more than the next biggest programmatic spender, Microsoft.

Specifically, Amazon ran digital ads across more than 1,300 different sites in the first quarter of 2018. In that time, Amazon advertised over 100 different products and services digitally and ran display, video, native, and mobile ads.

"Amazon is pouring billions into marketing, and a big piece of that pie is dedicated to programmatic," said Todd Krizelman, CEO & Co-founder at MediaRadar, declining to give more specifics about Amazon's ad spending.

Programmatic advertising is the automated way marketers buy ads across thousands of websites online, relying on algorithms that determine the best possible pricing and the best time to run a campaign.

MediaRadar used its sales intelligence platform to examine over 76,000 brands placing ads programmatically, scrubbing through data across across ad exchanges like AppNexus and OpenX, programmatic exchanges like Nativo and Sharethrough as well as ad buying platforms such as Google's DoubleClick, MediaMath and DataXu.

The firm also compared the spending of brands in the first quarter of 2018 with the first quarter of 2017 to determine any year-over-year changes. According to this data:

"Despite concerns over transparency, advertisers continue to invest in programmatic," said Krizelman. "It is the preferred method for transacting media for many advertisers and it doesn't appear to be changing."

He isn't wrong. More than $46 billion will be spent on programmatic advertising in the US this year, according to eMarketer and 86.2% of all digital display ads will be bought via automated channels by 2020.

Here are the the top 10 programmatic advertisers, according to MediaRadar's data:

Game developers: Elon Musk is looking to hire you for an unlikely project.

"If you're into video game development, consider applying to Tesla," Musk tweeted on Wednesday . "We want to make super fun games that integrate the center touch screen, phone & car [in real life]."

You may be wondering, like I was, what in the world it means to create games for a car. That remains unclear.

"An interactive game between Tesla owners near each other would be incredible." one Twitter user said to Musk, who responded with , "Something like that, but more of an adults in cars anime vibe."

The absurdly large touchscreen inside of a Tesla vehicle. Bryan Logan/Business Insider

Presumably the game would only be playable when the car isn't in motion. Presumably! Or maybe it's just for passengers to play?

It's hard to imagine a situation where a game running on the car's main touchscreen wouldn't be tremendously distracting from operating the vehicle. Musk isn't saying how it'll work for now (I asked).

In the meantime, Tesla is adding classic Atari games to the touchscreen in an upcoming software update — and how one of them is controlled offers a glimpse into how these upcoming Tesla-made games might work.

Musk said that Atari classics "Missile Command," "Tempest," and "Pole Position" should appear in the upcoming update, and in the case of racing game "Pole Position" you can drive in the game using your steering wheel "while stationary."

It sounds like, at least for now, no one will be turning their Tesla into a giant video game console/death machine.

Many would raise an eyebrow at a massive block of rock selling for $1 million. But in San Francisco, that's actually a bargain.

The city's infamously overheated real-estate market is one of the most competitive in the nation as San Franciscans and non-residents alike try to get their hands on a piece of land in the seven-by-seven square mile city.

One such piece of land, a 7,000-square-foot towering heap of rock, in the city's Telegraph Hill neighborhood is listed for $998,000 — and a sale is now pending on it, according to Redfin.

The property has served as a rock quarry in the past, offering up shards of rock for city establishments like City Hall and the Waterfront, according to the listing's website . The website also states that the space could hold a potential 12 new homes.

As reported by SF Curbed , the rock was originally listed in December of 2016 for $1.43 million, though public records don't convey that.

The asking price fell just below $1 million back in April, and it looks like the drop in price paid off since the property now has an owner.

The rocky zone will undoubtedly necessitate some extensive engineering in order to make the land buildable, which means millions more in dollars. But despite that fact, this listing is a downright deal by San Francisco standards. For the foundation in an exclusive location that would afford sweeping city views, $1 million is a drop in the bucket.

Tesla expects to make 6,000 Model 3 sedans in a week by the end of August, the company said in its second-quarter earnings letter, and a total of 50,000 to 55,000 Model 3s in the third quarter.

In 2019, the company expects to make 10,000 Model 3s per week. While most of its production lines should be able to produce 10,000 Model 3s per week by the end of 2018, the company said, some areas of production will not be ready to handle that rate.

During July, Tesla made around 5,000 Model 3s, as well as 2,000 Model S sedans and Model X SUVs, in a week multiple times. The company did not specify how many times it hit that number.

Achieving a consistent production rate of 5,000 Model 3s and 7,000 total vehicles per week is critical to the company's goal of becoming profitable. Tesla struggled to increase production after the Model 3 was launched in July 2017 and twice missed its self-imposed deadline to produce 5,000 in a week, but hit that rate at the end of June. During the second quarter, the company made more Model 3s than in the prior three quarters combined , in part due to a new production line, known as GA4, the company assembled in an outdoor, tent-like structure.

Tesla said in its second-quarter earnings report that its main assembly line, GA3, has not yet achieved a production rate of 5,000 Model 3s per week, but the company expects the line to hit that rate soon.

On Tuesday, CNBC reported that Tesla was flying in non-manufacturing employees to help with production at its vehicle and battery factories.

A Tesla representative told Business Insider that temporary reassignments are voluntary and do not have a major effect on production. The representative also said that employees who are reassigned are placed in roles that match their skills, and those who do not opt for reassignments will not be punished with negative performance reviews.

If you've worked for Tesla and have a story to share, you can contact this reporter at This email address is being protected from spambots. You need JavaScript enabled to view it.

Facebook Chief Security Officer Alex Stamos is leaving the social network to take an adjunct professorship role at Stanford University, reports the New York Times .

News of Stamos' departure comes a day after Facebook disclosed a coordinated political misinformation campaign on its platform —a disclosure in which Stamos played a key role, briefing the media on the situation in a conference call.

In March, the New York Times reported that Stamos was planning to leave in August . That report came in the midst of the Cambridge Analytica scandal, in which as many as 87 million Facebook users had their information improperly obtained by an outside firm.

It was reported at the time that he was clashing with other Facebook executives with how to fight targeted misinformation campaigns, especially those funded by hostile actors like Russia.

Stamos announced his move in a Facebook post on Wednesday , saying that while he was proud of the work he did at Facebook during the past three years, "the time has come for me to move on."

He also said "it is critical that we as an industry live up to our collective responsibility to consider the impact of what we build, and I look forward to continued collaboration and partnership with the security and safety teams at Facebook."

Facebook COO Sheryl Sandberg said in a statement that Stamos played "an important role in how we approach security challenges and helped us build relationships with partners so we can better address the threats we face."

In an interview with the New York Times on Wednesday , Stamos said that in his new role at Stanford he plans to continue digging in to ways to better fight misinformation and hoaxes as part of a research team.

"Obviously, it has been a difficult three years. I'd like to take the things I've learned and apply them more broadly," Stamos told the Times.

Citing its policy on 'hate content,' Spotify has confirmed that it removed several podcast episodes of 'The Alex Jones Show,' Recode reports .

Spotify didn't specify which episodes were removed from the platform, or what specifically violated its policy, but the moves comes just nearly a week after Jones, a conspiracy theorist and host of InfoWars, received a 30-day suspension from Facebook — and several of his videos were removed from Facebook and YouTube .

The vast majority of Jones' podcast episodes are still available on Spotify, however.

After some Spotify users discovered that Jones' show was available on Spotify, they took to Twitter this week to demand that Spotify remove his show from their streaming platform. Spotify has also recently been under fire for its handling of the promotion of content from alleged abusers — it temporarily removed music by XXXTentacion, a now-deceased rapper charged with battering a pregnant woman, and R Kelly, an R&B singer accused of statutory rape, from prominent playlists — only to reverse the decision weeks after announcing it.

Jones is known for promoting conspiracy theories, like his insistence that the 2012 Sandy Hook shooting was a hoax, and that child actors were used — a claim that has resulted in defamation claims against Jones from the affected families.

Reddit, the popular discussion and forum website, said on Wednesday that hackers managed to break into its computer systems and gain access to private messages, email addresses and other personal information belonging to some of its early users.

The hackers obtained access to a database that contained personal information of Reddit users who joined the service between 2005, when the site was created, and 2007.

The cyber attack occurred between June 14 and June 18, when hackers "compromised a few of our employees' accounts with our cloud and source code hosting providers," Reddit said, and its website administrators realized the hack occurred on June 19.

Reddit is one of the world's most popular websites, comprised of thousands of smaller "subreddit" communities for a variety of interests. However, Reddit often finds itself under scrutiny for all the wrong reasons, as its more toxic subreddits regularly engage in racist, misogynistic, and other kinds of bad behavior.

Specifically, that data includes usernames , "salted hashed passwords, email addresses, and all content (mostly public, but also private messages)." The salted hashed passwords means the passwords that were compromised aren't the passwords that users actually use.

The hack doesn't involve data from users who signed up after 2007. However, to be sure, it's best to change your Reddit password and activate two-factor authentication.

For those who signed up between 2005 and 2007, Reddit will make you reset your password. And if you use your Reddit password on other sites and accounts, Reddit suggests you change those passwords, too.

Reddit's statement of the incident is in full below:

TL;DR: A hacker broke into a few of Reddit's systems and managed to access some user data, including some current email addresses and a 2007 database backup containing old salted and hashed passwords. Since then we've been conducting a painstaking investigation to figure out just what was accessed, and to improve our systems and processes to prevent this from happening again.

What happened?

On June 19, we learned that between June 14 and June 18, an attacker compromised a few of our employees' accounts with our cloud and source code hosting providers. Already having our primary access points for code and infrastructure behind strong authentication requiring two factor authentication (2FA), we learned that SMS-based authentication is not nearly as secure as we would hope, and the main attack was via SMS intercept. We point this out to encourage everyone here to move to token-based 2FA.

Although this was a serious attack, the attacker did not gain write access to Reddit systems; they gained read-only access to some systems that contained backup data, source code and other logs. They were not able to alter Reddit information, and we have taken steps since the event to further lock down and rotate all production secrets and API keys, and to enhance our logging and monitoring systems.

Now that we've concluded our investigation sufficiently to understand the impact, we want to share what we know, how it may impact you, and what we've done to protect us and you from this kind of attack in the future.

What information was involved?

Since June 19, we've been working with cloud and source code hosting providers to get the best possible understanding of what data the attacker accessed. We want you to know about two key areas of user data that was accessed:

All Reddit data from 2007 and before including account credentials and email addresses

What was accessed: A complete copy of an old database backup containing very early Reddit user data -- from the site's launch in 2005 through May 2007. In Reddit's first years it had many fewer features, so the most significant data contained in this backup are account credentials (username + salted hashed passwords), email addresses, and all content (mostly public, but also private messages) from way back then.

How to tell if your information was included: We are sending a message to affected users and resetting passwords on accounts where the credentials might still be valid. If you signed up for Reddit after 2007, you're clear here. Check your PMs and/or email inbox: we will be notifying you soon if you've been affected.

Email digests sent by Reddit in June 2018

What was accessed: Logs containing the email digests we sent between June 3 and June 17, 2018. The logs contain the digest emails themselves -- they look like this. The digests connect a username to the associated email address and contain suggested posts from select popular and safe-for-work subreddits you subscribe to.

How to tell if your information was included: If you don't have an email address associated with your account or your "email digests" user preference was unchecked during that period, you're not affected. Otherwise, search your email inbox for emails from This email address is being protected from spambots. You need JavaScript enabled to view it. between June 3-17, 2018.

As the attacker had read access to our storage systems, other data was accessed such as Reddit source code, internal logs, configuration files and other employee workspace files, but these two areas are the most significant categories of user data.

What is Reddit doing about it?

Some highlights. We:

Reported the issue to law enforcement and are cooperating with their investigation.

Are messaging user accounts if there's a chance the credentials taken reflect the account's current password.

Took measures to guarantee that additional points of privileged access to Reddit's systems are more secure (e.g., enhanced logging, more encryption and requiring token-based 2FA to gain entry since we suspect weaknesses inherent to SMS-based 2FA to be the root cause of this incident.)

What can you do?

First, check whether your data was included in either of the categories called out above by following the instructions there.

If your account credentials were affected and there's a chance the credentials relate to the password you're currently using on Reddit, we'll make you reset your Reddit account password. Whether or not Reddit prompts you to change your password, think about whether you still use the password you used on Reddit 11 years ago on any other sites today.

If your email address was affected, think about whether there's anything on your Reddit account that you wouldn't want associated back to that address. You can find instructions on how to remove information from your account on this help page.

And, as in all things, a strong unique password and enabling 2FA (which we only provide via an authenticator app, not SMS) is recommended for all users, and be alert for potential phishing or scams.

Markets Insider

Shares of Tesla rose as much as 3.8% in after-hours trading Wednesday following the electric car maker's second-quarter earnings report that showed a greater loss than what Wall Street had expected, on better-than-anticipated revenues.

Here are the key numbers:

Earnings: -$3.06 per share (-$2.90 expected)

Revenue: $4.0 billion ($3.97 expected)

Cash burn — a key metric for Tesla as it seeks to become profitable this year — was $739.5 million, down slightly from $745.3 million last quarter.

"It’s fair to say that no production ramp of any other product has been as closely watched and debated as that of Model 3. We are proud of our team for producing roughly 7,000 Model 3, Model S and Model X vehicles during the last week of June," Elon Musk, Tesla's founder and chief executive, said in a letter to shareholders.

"We also want to thank all of our reservation holders who have waited patiently and who have been supportive of our mission. While we faced multiple obstacles during this ramp, our team worked hard to find solutions, and in the end, it was all worth it."

The company maintains that if it can keep up this production rate of 7,000 vehicles per week (or 350,000 per year) it can become profitable this year, as previously forecast. 

A conference call is scheduled for 5:30 p.m. ET. Last quarter, Musk made headlines by interrupting and ignoring several questions from Wall Street analysts whom he said represented sell-side investment theses. 

Tesla gained 1.1% in trading Wednesday and down 5.8% since the beginning of 2018 before the earnings release. 

Markets Insider

Tesla on Wednesday reported a wider second-quarter loss than analysts had expected but said it expects to be profitable later this year as it ramps up production of its Model 3 sedan.

The company reported an adjusted loss per share of $3.06 (-$2.90 expected), while revenue topped estimates at $4 billion ($3.97 billion forecast).

The results were highly anticipated, following an eventful quarter for the electric-car and solar-panel maker.

Tesla recently pushed back the delivery timelines for new orders of two of three versions of its Model 3 sedan. Investors and analysts have been interested in any updates on the pace of production of the mass-market cars, as well as whether Tesla may need to raise additional capital even after CEO Elon Musk said otherwise.

Tesla said it hit a weekly production rate of 5,000 Model 3s "multiple times" in July and aimed to increase that to 10,000 "as fast as we can." The electric-car maker said it expected to produce 50,000 to 55,000 Model 3s in the third quarter.

Tesla reported a negative free cash flow of $739 million, smaller than analysts had forecast and less than the $1.05 billion burn in Q1.

"Going forward, we believe Tesla can achieve sustained quarterly profits, absent a severe force majeure or economic downturn, while continuing to grow at a rapid pace," the company said.

Tesla's stock fell 3% immediately after the release before rebounding to gain as much as 3.6%. It has fallen 3% this year through the market close on Wednesday.